I was appointed director of a new start up company 3 months ago. I ve never held such a position before. The owner of the company convince me to because he thought I was up for it and would guide me through it. the owner believe in the company and think it will work well.
Now after 3 months and now being a permanent staff the guy holding the shares for the owner comes to me and says that he want to wind up the company because we have not proved that the company is worth investing in.
He suggested I resign and take a 2 months salary and go away.
He also wants to get rid of the other staff...
HELP
Can the shareholder do that?
2007-05-29 23:07:23 · 3 answers · asked by Moi 2 in Business & Finance ➔ Small Business
Sounds to me like something fishy going on, take the money and run.
2007-05-29 23:15:59 · answer #1 · answered by duked4 3 · 0⤊ 0⤋
Working for any startup is always a risk as something like 80% of them go out of business in the first two years I think it is. Either way, the place clearly doesn't have long term potential so I would cut my losses and be gone and that includes taking them up on their offer of 2 months salary. That's more than most places would give, especially in a start up that is going under.
2007-05-30 09:30:38 · answer #2 · answered by Airadine 3 · 0⤊ 0⤋
I'm actually surprised he's offering 2 month's salary. Get out of there and use the 2 months pay to find something else.
2007-05-30 10:33:44 · answer #3 · answered by jdkilp 7 · 0⤊ 0⤋